ING files update on regulatory matter
25 Junio 2018 - 1:01AM
ING announced today that it has filed supplements to the
Registration Documents for the debt issuance programmes of ING
Groep N.V. and ING Bank N.V. The updates concern a change in the
wording in the section 'General information - Litigation',
reflecting an update on timing.
The full amended paragraph in scope now reads: "ING Bank is the
subject of criminal investigations by Dutch authorities regarding
various requirements related to client on-boarding, money
laundering and corrupt practices. ING Group has also received
related information requests from US authorities. ING Group and ING
Bank are cooperating with such ongoing investigations and requests.
Management has concluded under IFRS that it is more likely than not
that a present obligation exists and that an outflow of resources
is probable, but was not able to estimate reliably the possible
timing, scope or amounts of any fines, penalties and/or other
outcome, which could be significant. ING expects to continue to
receive more information from the Dutch authorities concerning the
potential consequences of their investigation through the first
half and third quarter of 2018."
The full Registration Documents and supplements can be
downloaded via www.ing.com at the specific pages regarding the debt
securities of ING Groep and ING Bank.
Note for editors
For further information on ING, please visit www.ing.com.
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Press
enquiries |
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Investor
enquiries |
Raymond Vermeulen |
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ING Group Investor
Relations |
+31 20 576 6369 |
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+31 20 576 6396 |
Raymond.Vermeulen@ing.com |
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Investor.Relations@ing.com |
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ING
PROFILE ING is a global financial institution with a strong
European base, offering banking services through its operating
company ING Bank. The purpose of ING Bank is empowering people to
stay a step ahead in life and in business. ING Bank's more than
51,000 employees offer retail and wholesale banking services to
customers in over 40 countries. ING Group shares are listed
on the exchanges of Amsterdam (INGA AS, INGA.AS), Brussels and on
the New York Stock Exchange (ADRs: ING US, ING.N).
Sustainability forms an integral part of ING's strategy, evidenced
by ING's ranking as a leader in the banks industry group by
Sustainalytics. ING Group shares are included in the FTSE4Good
index and in the Dow Jones Sustainability Index (Europe and World),
where ING is also among the leaders in the banks industry
group. IMPORTANT LEGAL INFORMATION Elements of
this press release contain or may contain information about ING
Groep N.V. and/ or ING Bank N.V. within the meaning of Article
7(1) to (4) of EU Regulation No 596/ 2014. Projects may
be subject to regulatory approvals. Certain of the
statements contained herein are not historical facts, including,
without limitation, certain statements made of future expectations
and other forward-looking statements that are based on management's
current views and assumptions and involve known and unknown risks
and uncertainties that could cause actual results, performance or
events to differ materially from those expressed or implied in such
statements. Actual results, performance or events may differ
materially from those in such statements due to a number of
factors, including, without limitation: (1) changes in general
economic conditions, in particular economic conditions in ING's
core markets, (2) changes in performance of financial markets,
including developing markets, (3) potential consequences of
European Union countries leaving the European Union or a break-up
of the euro, (4) changes in the availability of, and costs
associated with, sources of liquidity such as interbank funding, as
well as conditions in the credit and capital markets generally,
including changes in borrower and counterparty creditworthiness,
(5) changes affecting interest rate levels, (6) changes
affecting currency exchange rates, (7) changes in investor and
customer behaviour, (8) changes in general competitive
factors, (9) changes in laws and regulations and the
interpretation and application thereof, (10) geopolitical
risks and policies and actions of governmental and regulatory
authorities, (11) changes in standards and interpretations
under International Financial Reporting Standards (IFRS) and
the application thereof, (12) conclusions with regard to
purchase accounting assumptions and methodologies, and other
changes in accounting assumptions and methodologies including
changes in valuation of issued securities and credit market
exposure, (13) changes in ownership that could affect the
future availability to us of net operating loss, net capital and
built-in loss carry forwards, (14) changes in credit ratings,
(15) the outcome of current and future legal and regulatory
proceedings, (16) operational risks, such as system
disruptions or failures, breaches of security, cyber attacks, human
error, changes in operational practices or inadequate controls
including in respect of third parties with which we do business,
(17) the inability to protect our intellectual property and
infringement claims by third parties, (18) the inability to
retain key personnel, (19) business, operational, regulatory,
reputation and other risks in connection with climate change,
(20) ING's ability to achieve its strategy, including
projected operational synergies and cost-saving programmes and
(21) the other risks and uncertainties detailed in the most
recent annual report of ING Groep N.V. (including the Risk Factors
contained therein) and ING's more recent disclosures,
including press releases, which are available on www.ING.com. Many
of those factors are beyond ING's control. Any forward
looking statements made by or on behalf of ING speak only as of the
date they are made, and ING assumes no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information or for any other reason. This document
does not constitute an offer to sell, or a solicitation of an offer
to purchase, any securities in the United States or any other
jurisdiction. |
- PDF version of press release.pdf
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